Gold price today increased sharply by another half million dong
Gold price update on the morning of January 21, world gold price increased after Mr. Donald Trump took office as US President, domestic gold market skyrocketed by half a million VND per tael compared to the same time yesterday morning.
This morning, the price of SJC gold skyrocketed again, surpassing the 87 million VND/tael mark in the selling direction. Specifically, the price of SJC gold bars was listed by Saigon Jewelry Company at 85.2-87.2 million VND/tael (buy in - sell out); an increase of 300 thousand VND/tael in both buying and selling directions.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.
Meanwhile, DOJI Group listed the price of SJC gold at 85.2-87.2 million VND/tael (buy - sell); an increase of 300 thousand VND/tael for both buying and selling.
The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.
Bao Tin Minh Chau listed SJC gold price at 85.2-87.2 million VND/tael (buy - sell); keeping both buying and selling prices unchanged.
The difference between buying and selling price of SJC gold at Bao Tin Minh Chau is at 2 million VND/tael.
Price of round gold ring 9999
As of 6:00 a.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 85.1-86.7 million VND/tael (buy - sell); an increase of 700 thousand VND/tael for both buying and selling compared to the beginning of the trading session yesterday morning.
Bao Tin Minh Chau listed the price of gold rings at 85-87.1 million VND/tael (buy - sell), an increase of 400 thousand VND/tael for buying and an increase of 300 thousand VND/tael for selling compared to early this morning.
World gold price
World gold prices increased far beyond 2,700 USD/ounce after the inauguration of President Donald Trump.
In the world gold market, the closing price of gold in New York on the night of January 20 was 2,707 USD/ounce, up 5.8 USD compared to the previous session. The spot price of gold on Kitco on the morning of January 21 (Vietnam time) continued to increase to 2,721 USD/ounce, up 13 USD compared to the closing price in New York.
This price after conversion is equivalent to 83.6 million VND/tael, lower than SJC gold by about 3.4-3.6 million VND/tael and lower than 9999 ring gold by about 3-3.55 million VND/tael.
Analysts say President Donald Trump's term will make the gold market more volatile because some of his policies could lead to higher inflation over a longer period. And this will continue to support safe-haven assets like gold.
Goldman Sachs Bank estimates that there is about a 10% chance that gold will be subject to a 10% tax in the next 12 months because gold has the status of a major asset and is likely to be exempt from taxes on a large scale.
Gold price forecast
World gold prices are receiving support amid a sharp decline in the USD index. Recorded at 0:30 on January 21, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 108,250 points (down 0.87%).
The fall in the value of the US dollar has made gold more attractive to holders of other currencies. Meanwhile, traders expect gold prices to rise even further in the future.
Therefore, in the trading session last night - when the gold price fell to the area of 2,682 USD/ounce, many people increased their purchasing power. Immediately, the world gold price today increased sharply and by 6:00 on January 21, it reached 2,708 USD/ounce.
Concerns about tariffs and a global trade war have had a significant impact on the precious metals market. Last week, gold prices surged above $2,700 an ounce, while silver prices returned above $30 an ounce, reflecting the urgency in the market.
Some analysts say the rise in gold and silver prices is due to disruptions in the global supply chain as the precious metals are moved from London to New York. Donald Trump’s tariff threats have created huge volatility in the physical futures market, as banks have moved large amounts of metals to the US to avoid the risk of potential tariffs.
In an interview with Kitco News, Dr. Nomi Prins - geo-economic expert, author of the book "Permanent Distortion: How Financial Markets Abandoned the Real Economy Forever" - gave an optimistic assessment of the gold trend.
Prins believes that gold prices are likely to rise sharply in 2025, with an expected peak of up to $4,000 an ounce. According to her, the demand for gold reserves from central banks around the world is one of the main factors driving the increase.
“Gold is a physical asset and is outside the control of financial or monetary systems established by humans. You cannot print or create it,” she emphasized.
As the global economy faces many uncertainties, central banks have increased gold purchases to protect assets against risks such as inflation and rising public debt.
In addition to its role as a hedge against inflation, gold is also seen as a safe haven during economic and geopolitical turmoil. Prins stressed that while global inflation has shown signs of cooling, consumers are still under pressure from rising prices for essential goods such as food, housing and healthcare.
